Penzance acquiring Watergate office building

The Watergate office building is under contract to be bought by D.C.-based Penzance Cos., according to The Washington Post, which cited sources familiar with the deal. The deal could close this year, according to the report.

A sale would mark the second change in ownership for the building at 2600 Virginia Ave. NW in six years. A group led by BentleyForbes, a private Los Angeles-based investor in high-end office buildings, paid $84.5 million for the building in 2005.

The 11-story, 198,000-square-foot office building was new in 1972 when thieves broke into the offices of the Democratic National Committee — which eventually led to President Richard M. Nixon’s resignation.